Taiwan Semiconductor Manufacturing Company Ltd said its first-quarter normalized net income amounted to NT$2.13 per share, compared with the S&P Capital IQ consensus estimate of NT$3.01 per share.

EPS increased 65.6% year over year from NT$1.28.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$55.15 billion, a gain of 65.6% from NT$33.31 billion in the prior-year period.

The normalized profit margin climbed to 24.8% from 22.5% in the year-earlier period.

Total revenue climbed 49.8% year over year to NT$222.03 billion from NT$148.22 billion, and total operating expenses grew 41.5% on an annual basis to NT$135.41 billion from NT$95.70 billion.

Reported net income rose 64.9% from the prior-year period to NT$79.09 billion, or NT$3.05 per share, from NT$47.97 billion, or NT$1.85 per share.

As of May 12, US$1 was equivalent to NT$30.75.